President of Appaloosa Management David Tepper Quotes

Find best quotes collection by David Tepper who is the founder and president of Appaloosa Management, a global hedge fund based in Short Hills.

The key is to wait. Sometimes the hardest thing to do is to do nothing.

This company looks cheap, that company looks cheap, but the overall economy could completely screw it up. The key is to wait. Sometimes the hardest thing to do is to do nothing.

There is a time to make money and a time to not lose money.

I am the animal at the head of the pack. … I either get eaten, or I get the good grass.

GM will do what’s best for GM, and Delphi should do what’s good for them.

It’s our contention that equity may be in the money, depending on where the liabilities lie.

I left Goldman Sachs. I was thinking about going to another Wall Street place. I didn’t want to do that. That was crazy. After you work on Wall Street, it’s a choice: would you rather work at McDonald’s or on the sell side? I would choose McDonald’s over the sell side.

I could buy an island. I could buy a private jet – but I have NetJets

I was never afraid to go back to Pittsburgh and work in the steel mills.

I’m just a regular upper-middle-class guy who happens to be a billionaire.

I think when it comes to decisions, I try not to be emotional. To drown out the noise and look at the important facts.

When we started Appaloosa, we were going to name it Pegasus because everyone was using Greek names. We filed the name. We paid $300, and they said you cannot use it because it is taken. Pegasus Funds. Then we said Pegasus is kind of a horse. We did not want to be the Unicorn Fund. So we pulled out a horse book.

This company looks cheap, that company looks cheap, but the overall economy could completely screw it up. The key is to wait. Sometimes the hardest thing to do is to do nothing.

I loved baseball. I lived and died for Roberto Clemente. I knew every player in the major league. You could pull a player’s card, and I could tell you the statistics.

It’s our contention that equity may be in the money, depending on where the liabilities lie.

GM will do what’s best for GM, and Delphi should do what’s good for them.

economy would improve and drive a rally, or the economy would drop and the Fed would undertake another round of easing.

But there is no logic to QE3 now and the only result might be more food and energy inflation.

Basically if I know that things were coming, if I got the right things out of Europe, I would invest in different things there,” he said. “I’d really invest more in Spain, but I’ve got to have the right things because if I don’t I’m going to get killed.

For better or worse we’re a herd leader. We’re at the front of the pack, we are one of the first movers. First movers are interesting, you get to the good grass first, or sometimes the lion eats you.

We keep our cool when others don’t. The point is, markets adapt. People adapt. Don’t listen to all the crap out there.

We don’t really buy high-flyers. We buy before they get high-flyers.

It’s nice when you can buy cash, when it’s cheaper than cash.

You’re trying to figure out that inflection point.

Our biggest mistake was not realizing how illiquid markets could get so quickly.

I’m rubbing your balls for good luck!

The media says that hedge funds are the new masters of the universe… We’re just a bunch of schmucks.